Miners Raged: 51% Attack Was Made on Firo
During the 51% attack on the Firo blockchain, one miner received enough power to make changes to the information recorded on the blockchain
Cryptocurrency developers have warned that blockchain is 51 percent susceptible to attacks. They recommend not to carry out transactions until the situation is normalized, and also to follow the news.
The attack seriously crashed the price of FIRO tokens. They fell from $5.50 to $4.86. Developers assess losses and identify recovery paths. In particular, the possibility of implementing ChainLocks developed by the Dash team is being considered to prevent such problems in the future.
The developers emphasize that this situation did not arise during any errors in the cryptocurrency code, but arose due to the nature of PoW mining. Because of this, many PoW mining blockchains have a high attack risk of 51%.
Recall that Firo is not the only project that has recently been hacked. Cryptocurrencies such as Grin, BCHA and Ethereum Classic were also affected.